In a large mixing bowl, combine cream cheese, mayonnaise, sharp cheddar cheese, diced jalapeños, bacon crumbles, red onion, black pepper, and cayenne pepper. Mix until smooth and fluffy.

Spread remaining bacon crumbles in a shallow dish for coating.

Scoop out portions of the cheese mixture and roll into balls about one inch in diameter, placing them on a clean plate.

Roll each cheese ball in the bacon crumbles until fully coated, pressing lightly.

Place the coated cheese balls in an airtight container and refrigerate for at least 30 minutes.

Serve chilled, arranged on a platter with fresh vegetable sticks or crackers.